RPM International buys Canada-based maker of wall systems

Pictured is one of Nudura’s insulated concrete forms (ICF) being installed. Nudura provides four series of ICF wall systems, consisting of foam boards made from expanded polystyrene and integral hinged plastic webs that hold both sides of the boards together. Concrete is then poured into the form to make an insulated concrete wall system.

Nudura has annual sales of about $40 million and the transaction should be accretive to earnings within a year, RPM said in announcing the acquisition.

Nudura's chief products are wall systems made of foam, polystyrene, plastic and concrete. RPM says the systems, known as ICFs, or insulating concrete forms, are a growth area in the construction materials market. The ICFs represent a growing niche in the building materials market, RPM said.

"A niche and emerging product in the building materials industry, ICFs provide enhanced energy efficiency and superior insulation, as well as greater resistance to fire, hurricanes, earthquakes and flooding, compared to traditional construction methods," RPM said a news release.

Nudura will operate within the RPM Specialty Products Group as a stand-alone operating unit of RPM's Dryvit business, the company said. RPM touts Dryvit as "the leading manufacturer of exterior insulation and finish systems (EIFS) in North America."

The deal isn't likely to move the needle much at RPM, which has $5.3 billion in annual sales from a raft of construction and related specialty products. But Nudura is a great addition to Dryvit, said RPM CEO Frank Sullivan in announcing the deal.

"Nudura is an excellent strategic fit that offers several key competitive advantages for Dryvit. Its product line will complement and expand Dryvit's existing product offering, allowing for enhanced cross-selling opportunities," Sullivan said in the release.